How Will April’s Retail Sales And CPI Data Be Interpreted

Equities slipped perhaps on the fear the Trump agenda will be derailed. Crude rallied another 1.5% following yesterday’s advance, the largest of the year, as sentiment changed yet again. Treasuries rose nominally in price even as the PPI greatly exceeded expectations and jobless claims were less than expected.

Commenting briefly about the extreme political vitriol, democracy is the best form of government as it solves differences via words not guns. Democracy is ugly, filled with acrimony and recriminations, all of which is better than the alternatives.

I do believe society is at a major inflection point… there is a strong probability that we are in the nascent stage of the beginning of the end of the vast administrative state. I believe it will get uglier as many fight to maintain power and the status quo. Most of the political class loathes this administration and will resort to hysteria to make its point.

Volatility may increase because of the uncertainty, however if economic activity accelerates, the typical company should perform well.

Today, retail sales and the CPI are released. How will the data be interpreted?

Last night the foreign markets were up. London was up 0.24%, Paris was up 0.12% and Frankfurt was up 0.20%. China was up 0.72%, Japan was down 0.39% and Hang Sang was up 0.12%.